Together Loans

I had received a loan from this company for a small amount, they put half of it into a separate account, my cosigners, and then put the other half later and told the cosigner they had to transfer the money to my account. That’s a shady practice already. But after trying to pay on it for a year, the monthly payments barely went to the principal. Say if you got a $5000 (not my sum) loan and you paid on it for a year and the principal is only down to $4700 even though you were paying say $185- $200 a month, that doesn’t add up unless they are using hidden fees and hidden interest charges. At that time, they were calling themselves transform credit, but for some reason they had to change their name. They tried to spin it as a PR friendly term but when you research it, you find out that it was related to copyright restrictions and they also do that to hide their previous reputation or come after people under a different label just to throw them off and confuse them. If you live in a state that has a strong consumer protection system, and you feel like these people are intimidating you and trying to make you scared by hitting your credit or threatening legal action. Immediately go to your banks fraud department, immediately remove their access to your bank through your ACH payments. Do not give this company any more money and get a finance attorney if you can. If not, they will have to go through a judge in your state to try and reclaim that money and most states with a protection system and interest caps will see that they have illegally loaned money and will dismiss the case altogether. They may try to send a fake garnishment order to your local clerk of courts, but a good clerk will see that and realize that it doesn’t match state law and dismiss it. If not, you are still able to contest it. The only reason these companies are active now is because of certain political actions done by a certain president on a federal level that makes them feel empowered to act that way. Know that you still have rights within your state and you will have protections in the future, even if the current temperature does not seem like it. Remember that they have to comply with federal AND state laws to operate. They have been barred from operating in 12 states across the nation already. They will tell you that because they are a lender from a different state they can follow that states laws, but that is not true. If they’re lending in your state, they are required to follow your state laws. Do not allow them to use any type of scare tactics any type of threats of legal action or anything when you’re not behind on your payment. These people are just one step away from being an Indian scam call center who just tried to rip off ignorant or ill informed Americans. Stay safe.

If I knew someone with awesome credit who could co-sign for this, I’d just ask them to borrow me the money. Misleading.